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Chimney Hill board agrees to revise 2025–26 budget, proposes 5% assessment increase
Summary
At its Jan. 18 meeting the Chimney Hill Board reviewed a $1,785,555 draft budget and agreed to update it with a proposed 5% assessment increase, added contingency for delinquencies, service increases and a 2.5% salary pool rise; revisions will be returned for approval in February.
The Chimney Hill Owners Association Board of Directors on Jan. 18 reviewed a proposed 2025–26 budget totaling $1,785,555 and agreed to revise several lines before returning the document for a formal vote at the February meeting. Kevin Comeau, a board member who presented the budget proposal, described a plan that allocates $127,000 to reserves and a $41,000 contingency while proposing adjustments to assessments and service fees.
James Walker, Executive Director, told the board that “CPI is currently at 2.9%, so we can go up to 5.9%,” prompting discussion of whether to raise assessments to the full allowable amount. After line-by-line review the board asked staff to update the draft with the following agreed changes: increase assessments to 100% of the full unit amounts, add a contingency subline for delinquency, apply a 5% increase to assessments, increase services fees, and raise the salary pool by 2.5%.
Board members debated methodological choices used to calculate assessments (whether to base assessments on 538 vs. 552 homes and similar lot counts) and directed a small subcommittee to examine guest‑fee structures that could include discounts for owners renting through Chimney Hill or a monthly fee option. The revised budget will be circulated for review and put on the Feb. 15 board agenda for possible approval.
